Why Mobile Banking Works for You?

Upon opening a bank account, in most cases these days, you have an option to register for mobile banking. The rapid penetration of smartphones globally has seen banks shift to hi-gear in developing apps aimed at offering the entire banking relationship over this platform. Mobile banking today is amongst the fastest-growing segments within banking across the globe. And the UAE with amongst the highest smartphone penetration globally, a largely expat population running hectic work schedules is adopting mobile banking as an obvious choice. The shift amongst users has been rapid, the platform viewed as convenient and reliable. So are you ready to try this way of banking or still prefer the branch banking way?

This article aims to put to rest certain reservations you may have in adopting this way of banking.

What are the benefits? You will be able to save time by being able to use your phone wherever you are to quickly check your balances or transaction records, transfer money, pay a bill or your credit card at a couple of click of a button. You can also save money by enjoying the reduced online banking fees and FX rates.

Who can do mobile banking? Citibank UAE Debit (banking) or Credit card customers can access their Citi Mobile Banking Platform as soon as their account is setup. Download the app from the Android Google play or Apple App StoreSMwww.citibank.ae/mobile. You need to setup a username and password and you need a smartphone with internet connection.

Which banking transactions can I conduct via my mobile phone? Today almost all or most of the transactions that are conducted at the branch can be conducted via the mobile phone. Be it checking your bank balance or downloading a statement, making a transfer locally or repatriating funds to your bank account back home, paying off utility bills, checking the latest exchange rates, mobile banking offers you all of this in an easy and convenient manner without the need of visiting a branch. Other than the basics, Citi Mobile is giving you a full picture by showing you your supplementary transactions, pending authorizations, standing instructions, recurring transfers and your available reward points.

Is it safe? This is most often a concern in making the shift to mobile banking. However, banks globally have been working overtime in ensuring the safety and security of this experience. Mobile banking today actually offers a increased level of security on account of immediate accessibility. As a user you can stay on top of your account related transactions in real-time, helping you to quickly notice a red flag in case of any untoward incident. Banks are constantly embedding security within the end-to-end Software Development Cycle (SDLC) to ensure safety. As a unique security element via smartphones, Citi Mobile allows you to use your fingerprint as well to protect your financial records. At Citi, we also encourage our users follow some essentials in undertaking mobile banking, including,

Sign out each time after using the app

Each time you get a new phone uninstall Citi Mobile® app from your old device

The truth is mobile banking is here to stay and arguments in favor of it being the obvious future of banking are growing by the day. There are conveniences it offers, given today’s busy schedules most certainly outweighs the traditional way of banking. Banking on the go, Citi Mobile, beyond the wide array of transactions outlined earlier, offers you a host of benefits, including the convenience of finding your nearest ATM, and exclusive offers across dining, shopping and entertainment experiences on usage of your Citibank card.

Content exclusive to Citi by Wealth Monitor. The views expressed here are those of the authors and do not necessarily represent or reflect the views of Citibank UAE. The information in this website does not constitute investment advice or an offer to invest or to provide management services and is subject to amendment without notice.

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